On August 7th, the crypto space is about to unleash a storm! Major project parties and capital giants are making their latest moves, and every action could become a heavy bomb in the market. Today, we will delve into the opportunities and risks hidden in these undercurrents, giving everyone an edge!
The Ethereum network seems to be under a spell, with the number of transactions skyrocketing to 1.87 million yesterday, just a step away from the historical peak. How many crazy actions from projects are hidden behind this, and how many traders are laying out their strategies in the chaos? Bitwise's CIO has stepped forward to say that institutions and governments are conspiring to stuff Bitcoin into reserve pools, as Bitcoin's demand seems to have pressed the 'rocket acceleration' button, on the verge of explosion.
In the past day, the total liquidation amount across the network reached as high as $172 million, with the market slaughtering battle being particularly fierce, and short positions becoming the main victims, as those who shorted were ruthlessly educated by the market, losing everything. Meanwhile, a mysterious 'ETH whale player' holding 14,000 ETH positions was nearly liquidated by the market, but fortunately topped up the margin in time, raising the 'death line' from $3,699 to $3,724. This operation is comparable to a Hollywood blockbuster, thrilling and exciting. Coinbase is also making big moves, announcing that it will connect to dYdX, a 'potential stock' in the financial sector, and as long as market liquidity cooperates, trading could start running after 9 AM Pacific Time on August 7th, possibly sparking a new trading frenzy.
The governance proposal from the Orca Council is eye-catching, planning to use up to 55,000 SOL to buy back ORCA. Is this a genuine effort to stabilize the market, or is there a deeper meaning? An invisible giant whale quietly accumulated 128,204 ETH worth up to $464.5 million in just three days. What grand plan lies behind such a large move? Parataxis Holdings and SilverBox Corp IV are 'marrying' to raise $640 million to create a Bitcoin treasury company, which is simply a 'giant project' in the Bitcoin space.
Analysts at Standard Chartered Bank have suddenly changed their tune, claiming that the Ethereum treasury company is now a 'hot commodity', with investment value far exceeding that of the US spot Ethereum ETF, undoubtedly dropping a 'bombshell' in the market. Trump is also not idle, claiming he will nominate a temporary Federal Reserve governor in the coming days, aiming to stir the stagnant waters of US monetary policy. Fed's Daly has also come out to state that the labor market is cooling, tariffs are just a small ripple, suggesting that interest rate cuts are on the horizon, which will undoubtedly affect global capital flows, making it hard for the crypto space to remain unaffected.
Ethereum founder Vitalik has boldly claimed that Ethereum will achieve instant transfer of assets between L1 and L2 in the future, which will fundamentally change the game rules of decentralized finance, making transactions as smooth as silk. Meanwhile, a mysterious new wallet has hoarded 500 BTC worth $58.3 million within two weeks. Is this mysterious buyer trying to build a position quietly, or are they preparing to stir up a storm in the market?
Hyperlane has announced the launch of Warp Routes 2.0 on Ethereum, marking a significant breakthrough in cross-chain technology, which is expected to break the 'island effect' between chains. CBOE has submitted an application to allow VanEck's Ethereum ETF to legally 'mine' staking rewards, which could change Ethereum's yield ecosystem.
Trump also made a statement, proudly announcing he will donate his presidential salary, with the first payment going towards White House repairs. What kind of waves will this political move create in public opinion? The publicly listed company TAO Synergies holds 42,111 TAO worth about $14.47 million. Will these assets become its moat, or a hot potato?
MYX's perpetual contracts on mainstream exchanges have seen extreme negative funding rates, with 24-hour liquidation volume second only to BTC and ETH, indicating extremely pessimistic market sentiment towards MYX, but perhaps this holds a potential reversal opportunity. The United States has imposed a 25% tariff on Indian goods, which could trigger a chain reaction in the global trade landscape, potentially affecting crypto assets.
Cosmos Health, a publicly listed company in the US, has secured up to $300 million in financing to establish an Ethereum reserve, signaling traditional capital's alignment with the crypto world.
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